Copa Holdings, S.A. (NYSE:CPA) Q1 2022 Earnings Conference Call May 12, 2022 11:00 AM ET

Company Participants

Pedro Heilbron – Chief Executive Officer

Jose Montero – Chief Financial Officer

Daniel Tapia – Investor Relations

Conference Call Participants

Savanthi Syth – Raymond James

Duane Pfennigwerth – Evercore ISI

Alejandro Zamacona – Credit Suisse

Michael Linenberg – Deutsche Bank

Pablo Monsivais – Barclays

Helane Becker – Cowen

Daniel McKenzie – Seaport Research Partners

Filipe Nielsen – Citi

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Copa Holdings First Quarter Earnings Call. During the presentation, all participants will be in listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions]. As a reminder, this call is being webcast and recorded on May 12, 2022. Now, I will turn the conference call over to Daniel Tapia, Director of Investor Relations. Sir, you may begin.

Daniel Tapia

Thank you, ma’am. And welcome everyone to our First Quarter earnings call. Joining us today are Pedro Heilbron, CEO of Copa Holdings and Jose Montero, our CFO. First, Pedro Heilbron will start by going over our first quarter highlights, followed by Jose, who will discuss our financial results. Immediately after, we will open the call for questions from analysts. Copa Holdings financial reports have been prepared in accordance with International Financial Reporting Standards. In today's call, we will discuss non-IFRS financial measures.

Our reconciliation of the non-IFRS to IFRS financial measures can be found in our earnings release, which has been posted on the company's website, copa.com. Our discussion today will also contain forward-looking statements, not limited to historical facts that reflect the company's current beliefs, expectations, and or intentions regarding future events and results. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially and are based on assumptions subject to change. Many of these are discussed in our annual report filed with the SDC. Now, I'd like to turn the call over to our CEO, Mr. Pedro Heilbron.

Pedro Heilbron

Thank you, Daniel. Good morning to all and thanks for participating in our First Quarter earnings call. Before we begin, I'd like to thank all our coworkers for their commitment to the company and recognize their continuous efforts and dedication to keep Copa at the forefront of Latin American aviation. To them as always, my utmost respect and admiration, where we faced challenges in Q1 such as the impact in January and February of the Omicron variant on our operations and demand for air travel, as well as a significant increase in jet fuel prices, we were able to deliver a profitable quarter.